document.write( "Question 1172446: Mr. Y is borrowing €5,000 at a compound annual interest rate of 6%. Amortize the loan if annual payments are made for 5 years! \n" ); document.write( "

Algebra.Com's Answer #797483 by Theo(13342) $\"\"$ $\"About$

You can put this solution on YOUR website!
using the calculator found at:
\n" ); document.write( "https://arachnoid.com/finance/index.html, make the following inputs:
\n" ); document.write( "present value = -5000
\n" ); document.write( "future value = 0
\n" ); document.write( "number of periods = 5
\n" ); document.write( "interest rate % per period = 6
\n" ); document.write( "paymnt at end of period
\n" ); document.write( "click on pmt and the calculator tells you that the payment at the end of each year needs to be 1186.98.
\n" ); document.write( "here's are the results from the use of that calculator.
\n" ); document.write( "

\n" ); document.write( "any questions, let me know.
\n" ); document.write( "theo \n" ); document.write( "

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